Reconciliation Ledger?
Answers were Sorted based on User's Feedback
Answer / neelima9
In reconcilation Ledger Co data is totaled&valuated.This is
used for transfering postings from Co to Fi.
Is This Answer Correct ? | 15 Yes | 7 No |
Answer / sudharshana vamsi
1. It reconciles Controlling with Financial Accounting.
A. It provides reports with which you can monitor the
CO/FI reconciliation for each account.
B. It can determine and display value flows that were
posted in Controlling across company codes, functional
areas or business areas.
C. You can use this value flow in Financial Accounting
as the basis for summarized clearing entries.
D. Clearing entries represent value flows within
controlling that have an effect on the legal closing of an
organization (balance sheet, profit and loss account).
E. You can either post the clearing entries using the
values determined, or you can let the R/3 System post them
automatically.
2. It provides an overview of all the costs incurred.
o The reconciliation ledger reports provide an
overview of the costs and are thus a suitable starting
point for analysis.
For example:- in the reconciliation ledger
reports you can analyze an item of the Profit and Loss
Account, which is displayed in the Financial Information
System (FIS), to see the costs assigned..
Is This Answer Correct ? | 10 Yes | 3 No |
Answer / wnr
Its a reconciliation ledger between CO & FI.In the
reconciliation ledger, Controlling CO data is totaled and
valuated. The reconciliation ledger displays data in all CO
applications. This data could be for a cost element,
business area, object types, object classes, totals of
company codes etc.So how does the reconciliation ledger
reconcile FI and CO records. The reconciliation ledger uses
reconciliation postings for this purpose
Is This Answer Correct ? | 7 Yes | 2 No |
Answer / nagarjuna reddy
It is a Ledger in which we LINK the main ledger with that
of the Sub ledger.
i.e Sundry Dr with that of the Customers and
Sundry Cr with that of the Vendors.
Is This Answer Correct ? | 7 Yes | 3 No |
Answer / hannah
Hi,
Customer and vendor accounts are sub ledger G/L's. We will
have to create two reconciliation G/Ls in viz.
Reconciliation G/L for Customer and Vendor in chart of accounts.
After, while creating customer and vendor master records, we
have to mention respective reconciliation G/L in their
company code segment details. This reconciliation a/c will
show you the net balances in G/L for customer and vendor a/cs.
Without creating Vendor you can still create individual G/L
for each customer and vendor , but then
1) Your list of G/L's in chart of account will be very lengthy.
2) Duplication of work as SD/ MM people are also required to
create their own list.
3) Cross company code consolidation will not be possible as
the chart of accounts will be different.
4) Very difficult to keep track of individual customer/
vendor a/cs.
5) Not advisable even in real time accounting system i.e.
manual book keeping.
Thank You.
Is This Answer Correct ? | 9 Yes | 5 No |
Answer / samir
Reconciliation Ledger is a GL, Whatever tranction are
posted in SL are also appeared in GL..
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / venkat
When No of company code having one controling area at the
we use reconcilation ledger
through reconcilation leger generated in Fi Document only
Is This Answer Correct ? | 5 Yes | 2 No |
Answer / rakesh chauhan
Reconciliation Ledger Is the main Ledger Of Sub Ledgsr.
EX.- Customer
Vender
Assest
Is This Answer Correct ? | 12 Yes | 10 No |
Answer / ajay bhuma
Reconciliation Ledger is a GL, Whatever tranction are
posted in SL are also appeared in GL..
Is This Answer Correct ? | 8 Yes | 8 No |
Answer / suryakant
Reconciliation a/c is a General Ledger account which needs to be created to linked in multiple sub-ledger accounts of similar category so that when you post items to a sub-ledger, the SAP system automatically posts the same data to the reconciliation general ledger at the same time. This means that you can draw up financial statements like P&L and Balance sheet at any time without doing manual transfer of totals from the sub-ledgers to the general ledger.
Is This Answer Correct ? | 0 Yes | 0 No |
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